2024 BNP Paribas Open economic impact nears $1 billion

The 2024 BNP Paribas Open in Indian Wells generated an estimated total economic impact of over $852 million on the Coachella Valley regional economy, according to a recently released economic impact report.

This counts as an increase of over 50% since a 2022 study initiated by George Washington University.

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The total gross economic impact is derived by calculating the direct ($568,988,608), and indirect, and induced ($247,822,499) economic impacts and then adding them together to show the incremental spending above and beyond what would have been expected had the BNP Paribas Open not been held in the area, according to a statement from the BNP Paribas.

Direct spending includes money spent by out-of-town visitors, vendors, sponsors, and the tournament organization to a business in the region. Indirect and induced impact is the re-spending of this money by the regional businesses in the regional economy.

A new event record was reached for the worldwide tennis tournament — a total of 493,000 fans were in attendance over the two-week period earlier this year. In addition, the full-time equivalents of those employed by the event were estimated at 12,149, according to the study.

Philippe Dore, the Chief Marketing Officer of the BNP Paribas Open, stated the tournament still delivers a "positive impact." Dore said, "With nearly $1 billion in total impact this year and a 51 percent increase compared to 2022, we remain poised for sustained success and growth in the community for years to come."

The total fiscal impact of the Open was estimated at about $50 million, through tax revenues for city and county governments in the form of sales tax, TOT (Transient Occupancy Tax) which is also known as bed tax, and property tax.

Stay with News Channel 3 for continuing coverage of the BNP Paribas Open.